On November 28, 2022, real estate investment firm Dornin Investment Group (“DIG”) acquired a loan secured by a recently renovated 181-bedroom off-campus student housing project located in greater Tucson, Arizona.
Loan purchases are a core focus at DIG, particularly recently as lenders are actively seeking to move problem loans off their books for a variety of reasons. DIG, purchasing opportunistic debt investments throughout the U.S., has closed over $420M in loan purchases since 2020. Activity has accelerated through the rate hike cycle and DIG expects note purchase activity to remain very strong through the end of 2022 and well into 2023. DIG is currently evaluating several other loan investments and expects to close on at least two more before year end.
Chris Dornin, CEO and Founder of DIG, remarks “We’ve sharpened our expertise to the point where we provide efficient and impactful solutions to lenders, guiding them step by step when they don’t often take this route. This loan purchase was case in point where we not only mitigated lender risk through the sale of the loan but enabled the lender to capture their full origination value through a creative deal structure – all within 49 days, start to finish.”
Mark Nicoletti at Allen Matkins provided legal expertise on the transaction.
About Dornin Investment Group
Dornin Investment Group (“DIG”) is a fully integrated real estate investment firm with offices in Laguna Beach, CA and Las Vegas, NV. DIG invests in commercial and residential real estate across the capital stack in partnership with a broad base of institutional and private investors. The firm specializes in distressed, opportunistic, and value-add investments in all major property types with a focus on office, flex, industrial, multifamily, and hospitality properties in addition to non- and sub-performing loans. DIG’s full-service investment platform includes asset and property management, leasing, design services, construction management and capital markets advisory services through its wholly owned subsidiary, Dornin Realty Advisors. For more information, visit www.dorningroup.com.